Home NEWSINDUSTRY NEWS Tata Group To Re-Enter Beauty Business After 23 Years

Tata Group To Re-Enter Beauty Business After 23 Years

by Professional Beauty India

Almost, less than a decade later, the multinational conglomerate Tata Group has said that beauty products will be a “key focus” for the brand.
As per the market reports, India’s cosmetic industry which was valued at USD 11.16 billion in 2017 is expected to reach USD 20-billion valuation by 2025. E-commerce, on the other hand, is estimated to touch the USD 120-billion mark by 2025.
And it’s exactly when the business gaint, Tata Group eyes reclamation of a business it left decades ago. In 1998, the Tata Group left the cosmetic business by selling its popular brand Lakme to Unilever. As stated by Noel Tata, non-executive chairman of Trent, a Tata Group unit operating a chain of retail stores along with beauty products, the brand will also look at expanding business formats in other verticals such as footwear and others.
Amid the recent beauty e-commerce boom, the astounding success of retailers like Nykaa and Purplle may have drawn the Tata Group’s attention back to the business it left over two decades ago. As per the market reports, the beauty e-commerce space grew by 64 per cent, as compared to last year.
The Tata Group is planning on selling its products through Westside, its flagship retail chain, or through standalone stores along with digital channels.

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